The benchmark indices extended their northward journey for the second straight session, climbing decisively above 25,200 with a 0.8 percent gain on June 25. The market breadth remained positive, with approximately 1,957 shares advancing compared to 654 declining shares on the NSE. Given the favourable technical indicators, the uptrend is likely to continue in the upcoming sessions. Below are some short-term trading ideas to consider:
Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan
Crompton Greaves Consumer Electricals | CMP: Rs 354.85
Crompton Greaves Consumer Electricals has broken out of a Bullish Flag pattern on the upside. The stock is currently trading above key daily moving averages, indicating strength. Additionally, the daily momentum indicator has triggered a positive crossover, which is a buy signal.
Strategy: Buy
Target: Rs 375, Rs 389
Stop-Loss: Rs 348
Sudeep Shah, the Deputy Vice President and Head of Technical and Derivative Research at SBI Securities
Titan Company | CMP: 3,652.2
Titan Company has formed a strong base near the 100-day EMA level and has resumed its upward journey. The stock is now on the verge of a horizontal trendline breakout on a daily scale. On Wednesday, the volumes recorded were above the 50-day average, signaling accumulation before the actual breakout. Titan is currently trading above both its short-term and long-term moving averages, and these averages are in a rising mode, which suggests the trend is strong. The daily RSI is also in bullish territory and rising, which is a positive sign. Hence, we recommend accumulating the stock in the range of Rs 3,660–3,630 levels.
Strategy: Buy
Target: Rs 3,900
Stop-Loss: Rs 3,530
EID Parry India | CMP: Rs 1,055
EID Parry gave a falling channel breakout on the daily scale on Wednesday. This breakout was supported by robust volume, which was more than six times the 50-day average volume, indicating strong buying interest by market participants. The 50-day average volume was 2.90 lakh, while on Wednesday, the stock recorded a total volume of 18.66 lakh.
As the stock is now trading at an all-time high, all moving averages and momentum-based indicators are signaling strong bullish momentum. Therefore, we recommend accumulating the stock in the range of Rs 1,060–1,050 levels.
Strategy: Buy
Target: Rs 1,150
Stop-Loss: Rs 1,020
TVS Motor Company | CMP: Rs 2,916.8
The Nifty Auto index is on the verge of giving a downward-sloping trendline breakout on the daily scale. TVS Motor, in particular, has already given a consolidation breakout on the daily chart. This breakout is confirmed by relatively higher volumes. The daily RSI has also broken out of a horizontal trendline, indicating strong bullish momentum.
Additionally, the daily MACD stays bullish as it is quoting above both the zero line and the signal line. The MACD histogram also suggests an increase in upside momentum. Hence, we recommend accumulating the stock in the range of Rs 2,920–2,900 levels.
Strategy: Buy
Target: Rs 3,110
Stop-Loss: Rs 2,820
Rupak De, Senior Technical Analyst at LKP Securities
Birlasoft | CMP: Rs 443.65
After a period of sideways movement, Birlasoft has moved up sharply, signaling increasing buying interest. The strong volume on the breakout day further supports this view. Moreover, the stock has moved above both the 21EMA and the 50EMA. The momentum indicator RSI is also trending upwards, signaling potential for a short-term rally.
Strategy: Buy
Target: Rs 478
Stop-Loss: Rs 427
Newgen Software Technologies | CMP: Rs 1,151.6
Newgen Software has formed a bullish Harami pattern on the daily chart, indicating a potential bullish reversal in the short term. On the hourly chart, the stock has given a consolidation breakout, further pointing to rising optimism. The hourly RSI is also in a bullish crossover. The trend in the short term looks positive, with potential to rise towards Rs 1,230.
Strategy: Buy
Target: Rs 1,230
Stop-Loss: Rs 1,129
Aster DM Healthcare | CMP: Rs 591.65
Aster DM Healthcare has given a consolidation breakout on the daily chart, indicating rising optimism. The stock has stayed above the important short-term moving average, the 21EMA, for some time. The RSI is also turning upward, showing positive momentum. All these factors suggest a potential short-term rally, with an upside target of Rs 650.
Strategy: Buy
Target: Rs 650
Stop-Loss: Rs 569
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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